Hugo’sway is good for someone who is a beginner trader with little capital who uses small position sizes and doesn’t hold their trades overnight. Let me tell you Their fees are ridiculous especially w... See more
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See what reviewers are saying
It's okay, still figuring things out Reactivated my account after a while away. New platform looks nice but I'm still learning where everything is. Deposit with ETH was fast enough, I'll give them tha... See more
I have been with hugosway since 2019, I have made several withdrawals and one as recent as yesterday, my only complaint is sometimes metatrader 4 will lag and price won’t update for a few minutes, for... See more
1 STAR, Becausde there are no MINUS ZERO STARS. Complete scam, after collecting all your personal info (illegal harvesting to pass on to criminals?), no equity in account. No more logging in to accou... See more
Company replied
Company details
Information provided by various external sources
Hugo's Way is a True ECN Forex Broker for professional traders. Trade Forex or Cryptos on Hugo's Way Forex Broker. Sign up to Hugo's Way Forex.
Contact info
Beachmont Business Centre, Suite 65, Kingstown, St. Vincent & Grenadines
- support@hugosway.com
- hugosway.com
2.5
Poor
224 reviews
Replied to 27% of negative reviews
Typically takes over 1 month to reply
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I have used Hugo's Way for a while now…
I have used Hugo's Way for a while now and pretty happy. Not had any withdrawal issues and won't be changing.
September 11, 2020
Unprompted review
Reply from Hugo's Way
Hi Brett, thanks for your positive feedback! We’re proud to offer same-day withdrawals to all clients to ensure quick access to their account funds.
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I have been using Hugosway for 8 months…
I have been using Hugosway for 8 months now. I have been impressed with the service. The 500:1 leverage has been a great tool for me to grow my small high risk accounts. I like to use bitcoin to deposit with all of my trading accounts and it was one of the main reasons i began trading with Hugosway. They are fast becoming my go to broker. Long may it continue
August 30, 2020
Unprompted review
Reply from Hugo's Way
Thank you for your positive review, Craig!
It's an unregulated broker, big red flag
Been using hugo'sway for a few months. Website is quite easy to navigate around. Withdrawing on the other hand is a myth... They take such a large % when you want to withdraw.
I've seen most of the bad reviews also saying that they stop you out when youre in a trade, which is true. I experienced this while I was in a trade.
For your own good please take these one star reviews into account and find another broker!!
August 29, 2020
Unprompted review
Reply from Hugo's Way
Hi there and thank you for your feedback. Here at Hugo’s Way, we use Margin Rules to protect our clients and prevent their accounts from going into negative balance. This is standard practice among all reputable brokers, and clients can view these rules in our Terms & Conditions before trading with Hugo’s Way.
With regards to regulation, Hugo’s Way clients benefit from lower commissions and lower minimum deposits when trading on our platform. In addition, we are able to offer higher leverage settings on tradable assets, and we allow the use of strategies such as scalping and hedging which are banned by many regulated brokers.
We strive to put our clients first by offering 24/7 customer support through LiveChat, email and clients can even request a call back at a time best suited to them. Our Customer Support team is always available to help traders with any problems or questions they have.
Regards,
The Hugo’s Way Team
TOOK A TRADE TODAY 08/25/2020 ON…
TOOK A TRADE TODAY 08/25/2020 ON GBPUSD! I HAD A STOP LOST AND TAKE PROFIT IN PLACE ! MY DAMN STUFF SAID PROHIBITED ! ON BOTH! I BEEN IN THE GAME YEARS!!! AND THIS WAS A STRAIGHT CRIME! MY CLOSE BUTTON WAS GRAY I HAVE NEVER SEEN THAT STUFF EVER IN MY LIFE!!! TOOK MY LOST FROM 1k TO 5k RIGHT BEFORE MY EYES!!! YOU GUYS OWE ME 5k !!! AND NEED TO BE REGULATOR... they told me that a third party what third party? DO NOT SIGN UP FOR THIS FUQK STUFF! PULLING MY DAMN MONEY TODAY!
August 25, 2020
Unprompted review
Reply from Hugo's Way
Hi Austin,
I was unable to locate any account under the name ‘Austin Redmond’ on our system or communication records. In situations where a trader feels that one of their positions has been unfairly impacted, we always encourage them to get in touch with one of our support agents so that the issue can be rectified as soon as possible.
Our Customer Support team is available to help clients 24/7, and they can be contacted either via Live Chat, Email or by requesting a Call Back through our website. Please quote your MT4 account number and the ID of the negatively affected trade so that our Trading Professionals can thoroughly investigate. We look forward to hearing from you.
There platform is horrible it keep…
There platform is horrible it keep freezing on my phone and computer we have a huge group that is looking for another broker any suggestions?
August 22, 2020
Unprompted review
Reply from Hugo's Way
Hi Richard and thank you for taking the time to review your experience with Hugo’s Way. Our platform has recently undergone a major service upgrade which included adding a new server and optimising the existing one. These upgrades have improved the performance of our platform and distributed the workload of the existing server so that the platform functions more efficiently and smoothly.
If, however, you feel that one of your positions has been negatively affected, we encourage you to contact our 24/7 Customer Support Team. Please quote your MT4 account number and the ID of any affected trades. One of our agents will investigate the case and if it results that your trades have been negatively affected through no fault of your own, we will be open to reimbursing the losses incurred.
You may contact our Support Team via Live Chat or email at support@hugosway.com. Alternatively, you may request a callback through our website and one of our agents will get in touch with you at your convenience. We look forward to hearing from you.
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Hugosway is lagging and stuck!!!!
I currently have two trades active that are not updating. Hugosway pricing is stuck and/or lagging. On MT4 (both on my phone and computer). I am stuck losing money!!!!! Becareful. This happends with hugosway. This trade is in serious profit, but hugosways has it stuck at only $3.xx profit. All of my other pairs are moving correctly and updated correctly.
August 21, 2020
Unprompted review
Reply from Hugo's Way
Dear Reem,
Thank you for taking the time to share your experience with Hugo’sWay. Our spreads are widely considered to be among the best in the industry and are displayed directly through the MT4 platform through ECN connectivity.
If you feel that your trade has been negatively through no fault of your own, please get in touch with one of our Customer Support Agents via Live Chat, Email or phone call. Please include your MT4 Account number and the trade ID of any negatively affected trades in your message, and a member of our trading team will investigate your concern within 48 hours. We will reimburse you if we find that you incurred a loss due to a fault in our server.
Our team is available to assist you 24/7. Please get in touch and we look forward to hearing from you.
Though new to Hugosway and I have been…
Though new to Hugosway and I have been enjoying their fast deposit processing but I have a problem here. I opened a $71 account and my trading currency on mt4 is in bitcoin but I was credited with 6068.89 and I have find it difficult to understand how you arrived at that figure. If the 6068.89 is in BIT then I have a problem.
August 13, 2020
Unprompted review
Reply from Hugo's Way
Hi Ephrata and thanks for getting in touch. Please be advised that you did indeed successfully send $71.02 which was approved and landed in your account. Please be advised that when you store your balance in BITs then this is subject to BTC price fluctuation. At the time of sending 6068.89 was $71.02. Following a movement in the market 6068.89 is now worth $68.99. Bitcoin is a volatile currency and is subject to price movements.
Please keep in mind that 1 BIT is equal to one-millionth of a Bitcoin, which means that 6068.89 BIT is equal to 0.00606889 BTC. At the time of writing this review, this amount was roughly equal to $70 when using the BTCUSD rate at the time. Kindly note that when depositing via Bitcoin, you are prone to its price fluctuations and will not always receive the exact amount you intend to deposit in terms of USD.
As you deposited funds in Bitcoin - to your USD Wallet - to your MT4 BIT account, there was a currency conversion charge of 2%. BTC price has been on a downward trend in the last 6 hours which is why you have received less than your initial deposit amount. If you would prefer to protect your investment, it may be better to store your trading balance in a fiat vault and a fiat MT4 account.
I hope this helps clear things up for you Ephrata. If you need any further assistance or clarification, please reach out to us on our LiveChat service, request a call back or email us at support@hugosway.com.
I was happy with them UNTIL
I was happy with them, I have a system that I've been trading with Oanda and traders way that works! I know I'm going to lose some sometimes, it would be unrealistic to say I wouldn't, but to have these broker constantly taking me out when the price hasn't even hit my stop loss is pure fraud. No matter what, sign up with a regulated broker, you might never see your money again with these guys
August 12, 2020
Unprompted review
Reply from Hugo's Way
Hi Sheila,
Thank you for taking the time to review your experience with Hugo’sWay. It is common practice for Brokers to implement margin rules when trading using leverage. If your trade is closed automatically, this will be caused by a ‘stop-out’ based on our margin rules.
When a margin level drops to below 70%, the largest negative trade will be closed automatically in order to protect both the trader and the broker from further losses. You can view your margin level at all times through the MT4 platform.
If you believe that your trades have been negatively affected due to factors out of your control, please get in touch with one of our Customer Support Agents via Live chat, email or phone call. Please quote your MT4 account number and the ID of the affected trades in your message, and our trading professionals will investigate the query within 48 hours. We look forward to hearing from you.
Pretty new to Hugosway
Pretty new to Hugosway, but I'm really impressed with how smooth everything has been.
Processed my first withdrawal on Friday and it was really quick and smooth and just thought I'd take the chance to review to reflect that.
I'll update the review if anything changes, but right now it's been great :)
August 9, 2020
Unprompted review
Reply from Hugo's Way
Hi Louise and thank you for your kind words! We pride ourselves in offering same-day deposits and withdrawals allowing our traders to gain rapid access to their funds.
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Hugosway has been top ever since…
Hugosway has been top ever since joining. There crypto trading option is second to none. With so many options compared to other brokers. Deposits and withdrawals are super fast. I find there platform so easy to navigate and user friendly.
August 5, 2020
Unprompted review
Reply from Hugo's Way
Hi Helen, thank you for writing such a nice review! We are delighted that you are enjoying your trading experience with us. Get in touch with our 24/7 professional support team whenever you need any help or assistance!
Don't bother, they will rob you.
Today I experienced a tasteless act of robbery. Held two trades after swap because I was already looking at profiting in my position. The swap not only kicked me out of my trade for absolutely no reason, but took $100 right along with it. Terrible customer service as well as they lead you to think they will be of help but send some guys named "Tom" to tell you in 1st grade grammar they can't do anything for you. Today was most definitely my last day. Stay away from unregulated brokers like this one.
August 3, 2020
Unprompted review
Reply from Hugo's Way
Hi Jay and thank you for taking time out to provide some feedback. I was unable to locate you on our system to have a closer look at your account history. Whenever a trader feels that a position was affected negatively then we encourage them to get in touch with us quoting their MT4 account number and ID of any affected trades. Once we receive this information, one of our trading professionals can independently review each affected trade and get back to you with an explanation of what exactly happened. If you were indeed negatively affected through no fault of your own, we will look to reimburse you.
Our professional support team is available 24/7 via LiveChat, email or call back request through our website. Please get in touch at your earliest so we can review and look towards a resolution. We look forward to hearing from you.
Reply from Hugo's Way
Hi Andrew, our server time is the same time as MT4 time which is GMT+3. If you need any help or assistance, feel free to contact our 24hour professional support team via LiveChat, call back request or email support@hugosway.com
Almost Perfect
Great customer service, great spreads. No complaints aside from the fact that they’re unlicensed which is a bit scary to think about. The day the get their license sorted out it’s a perfect 5 star for me. Good job guys.
August 1, 2020
Unprompted review
Reply from Hugo's Way
Thank you for your kind review!
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Very scam
Very scam , was in a trade, had more than enough free margjn, Put trade in demo account as well as real account, both activated at same time, watched trade closely, sat at take profit for well over time. Demo closed out at tp but real account went high negative in a matter of seconds.
"The price of US30 reached your Take Profit level, however, the Liquidity Provider did not find a trader willing to match your requested price. As such, the system did not execute the trade due to the FIll or Kill rule."
Not the first time this has happened but will be the last.
This broker makes rules up to its benifits, will be deleting all my accounts and going to another broker and will bw transferring all of my clients and friends to another broker.
July 31, 2020
Unprompted review
Reply from Hugo's Way
Hi Brenton, I have managed to locate your account on our system. Please be advised that a demo account would not behave in the same way as a live account, as the demo would not need to have an order filled by another trader on the opposite side of your position.
Whenever a trader feels like they have any position negatively affected through no fault of their own, one of our professional traders will always investigate any claim. In your case, our team sent you 3 emails under ticket ID: 406900 with a detailed explanation of why the take profit order was not filled. This was because of no liquidity to fill the order at the requested price.
As a true STP broker, we do not trade against our clients, instead, we send orders to a pool of liquidity providers for them to execute trades on the live market. If there are no traders on the other side of your position, this means there is no liquidity and the order will slip to the next available price. For ‘Take Profit’ and ‘Limit Order’ we have the “Fill or Kill’’ rule so orders to not slip into negative.
Your US30 trade did indeed reach your TP level however the Liquidity Providers were unable to find a trader willing to match your requested price which meant the system could not execute the order due to the “Fill or Kill’’ rule which can be seen here: https://prnt.sc/trm42o Shortly after, the market reversed turning a profitable trade into a floating loss.
Please rest assured that pricing comes from our liquidity providers and we in no way manipulate any trades. We are a fully transparent broker who makes money from the commission charged per trade meaning we are not incentivised by trader losses. We can completely understand your frustration however, the order not being filled is not a system error but a part of trading live markets. As such we are unable to offer a refund due to there being no liquidity in the market.
We hope this helps clear things up. If you would like any further clarity on order execution, pricing or liquidity why not arrange a call back request through our website? One of our dedicated traders will be more than happy to go over this with you and answer any questions you may have. Alternatively, get in touch via LiveChat or email support@hugosway.com.
Terrible app
Terrible app, I randomly lost $234, yes $234 for no reason, and their only explanation was to change my password??? Do not give them any money, instead try fxglory or someone reliable. DO NOT trust this company.
July 30, 2020
Unprompted review
Reply from Hugo's Way
We're sorry about your experience. If funds disappeared from your account unexpectedly, we'd like to investigate.
Please contact our support team with your account details so we can review what happened.
Sincerely,
The Hugo's Way Team
Don't do it!!!
once you create an account you cant delete it so i would think twice before using it. i created an account and when i tried to delete they told me if i did i couldn't use my email or number on there if i decided to come back and make a new account
July 29, 2020
Unprompted review
Reply from Hugo's Way
Hi glo-glo, I was unable to locate you on our system based on the information provided in your review. We can not delete accounts due to strict AML policies. Should a trader use an account for illegal activity such as money laundering or funding of terrorist activities, we must be able to hand over information to the relevant authorities if required by law. We can archive accounts but can not delete them. With this being said, please rest assured that we never share personal or financial information with any 3rd party entities.
Having too many dormant accounts on our systems can have a detrimental impact on server speed which in turn negatively impacts overall user experience so clients having multiple accounts is something we look to avoid. Please get in touch via LiveChat, call back request or email support@hugosway.com, so we can set you up with an account containing your accurate information and get you started on your trading journey. We look forward to hearing from you.
Good broker been with them quite some…
Good broker been with them quite some time and use them pretty much exclusively now. The BTC deposits and withdrawals make life quick and simple, I trade BTC quite a lot so being 24/7 is a must for me.
July 25, 2020
Unprompted review
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Good customer service however as a new…
Good customer service however as a new customer I made a deposit of $1000 and hugosway took $25. Not sure why I was charged a 25% fee. I sent an email to customer support regarding the fee as well as another matter however customer service never gave me an answer to why I was charged a 25% fee.
July 23, 2020
Unprompted review
Reply from Hugo's Way
Hi Keith and thank you for leaving us some feedback. I have been unable to locate you on our system based on the information provided in your review. There are many steps to action to ensure Vload deposits land smoothly, as such there is a 5% fee to cover administration costs. Bitcoin deposits carry a fee 0.0005BTC which is around $4.50 based on current BTC price. The BTC fee remains fixed whether the deposit amount is $20 or $20,000.
Please get in touch at your earliest convenience so we can take a look into your account and look to why you received less than your $1,000 deposit. Our professional support team is available 24/7 via LiveChat, call back request or email support@hugosway.com. We look forward to hearing from you.
Came across this broker while looking…
Came across this broker while looking for a specialist crypto broker that enabled me to trade weekends. Now having a weekend off is not a bad thing, but experience proved that opportunities were missed or I was stuck in trade with no way of managing that trade.
Hugosway was a very quick and simple sign up process, with a wide range of pairs, although I personally stick to only a few, they are there if you want to trade them. There is good leverage of 100:1 on crypto trading and of course my main requirement was 24/7 markets, so ticked all the boxes on this front.
I have not done much Forex trading on this broker, but I have no reason to feel they would not be as good on these markets, and they also offer commodities and indices if that's your thing.
July 22, 2020
Unprompted review
Reply from Hugo's Way
Hi Rachel and thank you for your kind review. We offer 55 currency pairs as well as 64 stocks. Our professional support team is available 24/7 for all of your account needs via LiveChat, email or call back request.
I have been using Hugosway for 3 months…
I have been using Hugosway for 3 months now. I do not have anything good to say about the platform. I have lost a lot of money while in a good trade. My trade will just freeze and while I am checking the trade in tradingview, it is going as I predicted the market, but in my Metatrader4 app, it is frozen and showing that I am loosing money. This has happened uncountable times. Hugosway needs to get their act together else they will have no traders. Worst thing is that they are not regulated
July 21, 2020
Unprompted review
Reply from Hugo's Way
Hi Ed, I was unable to locate your account based on the information provided in your review. At Hugo’s Way, we pride ourselves in offering our traders with some of the best trading conditions in the industry coupled with a professional support team available 24/7 for all of your account needs.
We have recently undergone major service upgrades by adding an additional server to the Hugo’s Way platform as well as fully optimising the existing one. The upgrades aim to dramatically improve platform performance and minimise any unscheduled downtime. After a full investigation, we found that too many users logging into the platform at once, along with many dormant MT4 accounts, was affecting server performance. The additional server will help spread the workload of the existing server which has been fully updated.
If you feel like you had a position negatively affected through no fault of your own, we invite our traders to get in touch and quote their MT4 account number along with the trade ID of any affected trades. From here we can look into exactly what happened and report back to you with our findings. If indeed your trade was negatively affected, we will look at reimbursement options for you.
Please get in touch via LiveChat, call back request or email support@hugosway.com and we can investigate this matter further. We look forward to hearing from you.
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